Streetbeat News

Acquisitions Mergers

BITF

RIOT

Riot Platforms Inc (NASDAQ:RIOT) shares are trading lower after the company announced that the Ontario Capital Markets Tribunal has ceased trading Bitfarms Ltd’s (NASDAQ:BITF) poison pill. Riot also announced the acquisition of Block Mining for $92.5 million, adding significant operational capacity. Multiple analysts have reiterated their ratings and price targets for Riot, which is expected to report a loss in its upcoming financial results.

Portfolio Pulse from Adam Eckert

July 25, 2024 | 2:57 pm

PARA

Paramount-Skydance $8 billion merger is facing a court challenge as a stockholder alleges that Redstone is forcing the deal.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 2:17 pm

ACI

Kroger and Albertsons have agreed to delay their $25 billion merger for a September trial after a Colorado judge temporarily halted the deal. The Colorado Attorney General has sued to block the merger.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 2:16 pm

GCAD

HON

PPA

Honeywell International Inc. (NASDAQ: HON) reported strong Q2 earnings driven by aerospace growth but lowered its FY24 EPS outlook. Revenue grew 5% Y/Y to $9.58 billion, beating expectations. Adjusted EPS was $2.49, also beating estimates. Despite positive growth in three of its four segments, the company lowered its FY24 EPS guidance and segment margin outlook. Honeywell shares are down 4.52% premarket. Investors can gain exposure via Gabelli Commercial Aerospace And Defense ETF (NYSE: GCAD) and Invesco Aerospace & Defense ETF (NYSE: PPA).

Portfolio Pulse from Lekha Gupta

July 25, 2024 | 1:07 pm

AGCO

AGCO Corporation has entered into a definitive agreement to sell the majority of its Grain & Protein business to American Industrial Partners for $700 million in an all-cash transaction. The deal is subject to working capital and other customary closing adjustments.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:03 pm

MXL

POAI

Market-Moving News for July 25th: Edwards Lifesciences (EW) shares drop 24% after poor Q2 sales and weak Q3 guidance, despite acquiring JenaValve and Endotronix. MaxLinear (MXL) shares fall 27% following disappointing Q2 results. Predictive Oncology (POAI) shares surge 117% after entering the biomarker discovery market with successful ovarian cancer study results.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:01 pm

CTRM

Castor Maritime has announced an agreement to acquire a 2015-built Ultramax dry bulk carrier for $25.5 million through its wholly-owned subsidiary.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:00 pm

INST

KKR

Instructure Holdings, Inc. (NYSE:INST) will be acquired by KKR for $4.8 billion in an all-cash transaction. Shareholders will receive $23.60 per share, a 16% premium over the unaffected share price. The transaction will make Instructure a privately held company.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:56 pm

CRM

IGV

NOW

WDAY

XDAT

ServiceNow, Inc. (NYSE:NOW) shares are rising in premarket trading after exceeding second-quarter earnings expectations. The company reported revenue of $2.627 billion, surpassing the consensus estimate of $2.607 billion. Analysts expect robust U.S. federal business and increasing AI software adoption to counterbalance economic uncertainty. ServiceNow also announced the departure of its President and COO following an investigation and the acquisition of Raytion. The company expects third-quarter subscription revenue growth of 20% to 20.5%. ServiceNow's generative AI products significantly contributed to its earnings, positioning it in direct competition with Salesforce and Workday.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2024 | 12:52 pm

APO

Apollo Funds announced the acquisition of Evri, a leading UK parcel delivery company. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:47 pm